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Innovations Shaping the Future of Airway Management
According to The Business Research Company's, The airway management devices market size has grown steadily in recent years. It will grow from $2.49 billion in 2023 to $2.55 billion in 2024 at a compound annual growth rate (CAGR) of 2.4%. The growth in the historic period can be attributed to increasing prevalence of chronic respiratory diseases, rising geriatric population, growing demand for minimally invasive surgeries, increasing awareness about the importance of airway management.
The airway management devices market size is expected to see steadily grown in the next few years. It will grow to $3.22 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to aging population, occupational health and safety, anesthesia practices, telemedicine and remote care. Major trends in the forecast period include enhanced video and imaging, telehealth integration, personalized and 3d-printed devices, airway management algorithms, airway management algorithms:.
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Market Drivers and Trends:
The increasing prevalence of respiratory diseases is expected to propel the demand for airway management devices market over the forecast period. Airway management devices are used for difficult emergency airway management during medical procedures. According to the American Lung Association, in 2021, 142,342 people died from COPDs in the US making it sixth overall leading cause of death and fifth disease-related cause of death. Lung cancer was the deadliest cancer with 1.76 million deaths annually across the world. Moreover, 10 million people develop tuberculosis, and 334 million people suffer from asthma every year. This scenario drives the growth of the airway management devices market.
The launch of innovative airway management devices is shaping the airway management devices market. For instance, in December 2021, McMurray Enhanced Airwar (MEA) was named as 2021 EMS world innovation awards winner. The MEA is specially designed to quickly open a patient's airway facilitating ventilation and oxygenation.
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Major Key Players of the Market:
Medtronic Inc.; Smiths Medical Inc.; Teleflex Incorporated; Ambu A/S; KARL STORZ SE & Co. KG; Flexicare Medical Limited; Intersurgical Ltd.; Becton Dickinson and Company; Mercury Medical; Well Lead Medical Co. Ltd.; Unomedical Inc.; SunMed LLC; Tuoren Medical Device India Pvt. Ltd.; Medline Industries Inc.; Armstrong Medical Limited; Zhejiang Sujia Medical Device Co.Ltd.; Vyaire Medical Inc.; Salter Labs Inc.; Cook Medical Inc.; Olympus Corporation; General Electric Company; ICU Medical Inc.; ConvaTec Group Plc; VBM Medizintechnik GmbH; Boston Scientific Corporation; Fujifilm Holdings Corporation; Hoya Corporation; Richard Wolf GmbH; Stryker Corporation; Terumo Corporation; Verathon Inc.; Vitalograph Ltd.; Westmed Inc.; Xiamen Compower Medical Tech Co. Ltd.
Airway Management Devices Market 2024 Key Insights:
• The airway management devices market size will grow to $3.22 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%.
• Rising Prevalence Of Respiratory Diseases Fuels Demand For Airway Management Devices
• Innovation Drives Growth In The Airway Management Devices Market
• North America was the largest region in the airway management devices market in 2023
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